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Todd Marshall emerges as AFL trade circuit-breaker in Bulldogs-Butters deal, September 15

September 14, 2026
07:32 PM
4 min read

Key Points

Todd Marshall could be traded to Bulldogs in separate deal from Butters.

Port Adelaide would receive three first-round picks under the proposed structure.

AFL has warned clubs against secret deals and unapproved trades.

Bulldogs already committed $18 million over nine years to Zak Butters.

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Todd Marshall has emerged as the potential circuit-breaker in a complex AFL trade that could see the Western Bulldogs land Zak Butters while Port Adelaide secures three first-round picks. According to SEN journalist Tom Morris, Marshall would be traded separately to the Bulldogs in a deal involving Pick 12 and a future first-rounder, allowing Port to receive compensation pick No.5 from the AFL. However, the AFL has warned both clubs against unapproved trade arrangements, with any secondary deal facing significant scrutiny.

How the Marshall trade could unlock the Butters deal

Under the proposed structure, the Western Bulldogs would receive both Zak Butters and Todd Marshall, while Port Adelaide would walk away with three first-round selections: compensation pick No.5, Pick 12, and a future first-rounder. Marshall is contracted until the end of 2029, with discussions ongoing about how his long-term salary would be split between the clubs. The separate Marshall trade would need AFL approval on its own merits, distinct from the Butters compensation arrangement.

AFL issues warning over secret deals and unapproved trades

The AFL has prepared to warn all clubs against secret deals and unapproved trades, with any arrangement between Port and the Bulldogs certain to face scrutiny. Fox Footy’s Jon Ralph stated the AFL will write to all clubs about linked trade arrangements. The league is concerned such deals could be viewed as collusion, though both clubs would argue it is smart business. Any proposal must pass what the AFL calls the pub test, given existing scepticism in the AFL community about complex multi-part trades.

Why Port Adelaide and Bulldogs are exploring this structure

The Bulldogs have already committed $18 million over nine years to Butters, equating to roughly 11 per cent of their salary cap. Trading for Marshall separately allows Port Adelaide to secure additional draft capital without forcing the Bulldogs to surrender three first-rounders outright. Port would receive compensation pick No.5 automatically if Butters departs as a free agent, making the Marshall trade a way to extract additional value. The arrangement remains complex and requires AFL approval before proceeding.

Concerns over the Bulldogs’ spending

Former Port Adelaide midfielder Kane Cornes has questioned whether the Bulldogs have overpaid for Butters, arguing the midfielder’s motivation was financial rather than premiership success. Cornes noted that Geelong were initially favourites until the Bulldogs increased their offer by $3 million. Butters will join St Kilda’s Nasiah Wanganeen-Milera and West Coast’s Harley Reid as the first AFL players in the $2 million per season club, raising concerns about salary cap depth for the remainder of the Bulldogs’ list.

Final Thoughts

The Todd Marshall trade proposal offers Port Adelaide a way to maximize draft capital while helping the Bulldogs land Butters, but the AFL’s warning signals the league will scrutinize any linked arrangements closely. Both clubs must demonstrate the deal passes the pub test before proceeding.

FAQs

Who is Todd Marshall and why does he matter to the Butters deal?

Todd Marshall is a Port Adelaide utility contracted until 2029. He could be traded separately to the Bulldogs, allowing Port to secure three first-round picks instead of just compensation pick No.5.

How much would the Bulldogs pay for Todd Marshall?

The exact price is still under negotiation. The proposed deal involves Pick 12 and a future first-rounder, with Marshall’s salary split between clubs.

Why did the AFL warn Port Adelaide and the Bulldogs?

The AFL warned against secret deals and unapproved trades. It wants to ensure any linked arrangement between the clubs passes the pub test and is not viewed as collusion.

What happens if the AFL rejects the Marshall trade?

If rejected, Port Adelaide would still receive compensation pick No.5 for losing Butters as a free agent, but the Bulldogs would need to trade more picks directly to Port Adelaide.

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.

About Author

Author

Danny Kontos

Co Founder

Danny Kontos has been a stock investor since 2007 and co-founded Meyka in 2023. He keeps a small, focused portfolio and only moves when the numbers are hard to argue with. He has waited years on a single position before. Before Meyka, he ran a web hosting company and a mortgage lending platform, so he knows what a well-run business actually looks like under the hood. This article did not come from a news cycle. It came from someone who has been watching this space for a long time.

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